Scientific Games Corporation has recently made an announcement regarding new progress in its latest business deal. The premium online gaming provider has now confirmed that it has completed the acquisition of Spicerack Media, a privately owned mobile and social gaming operator. Spicerack has now become an official subsidiary of Scientific Games.
Having been established in 2007 and based in Tennessee up until recently, the company’s cornerstone software offering Bingo Showdown makes up a notable percentage of Spicerack’s overall income. The operator’s games are currently available on a number of mobile and social platforms, including the Apple iStore, the Google Play app store for Android, Amazon, and Facebook.
Scientific Games has voiced hopes that Spicerack’s most popular social and mobile bingo product will compliment its own range of social casino games, adding even more power to the company’s existing portfolio. Although the deal between the two companies has now been finalised, the details of the agreement have not been revealed. In September last year, Scientific Games moved to designate all of its social casino gaming subsidiaries as unrestricted companies under its various debt deals.
The move was purportedly to help boost the company’s growth in its interactive gaming arm in order to bring in more revenues and increase brand exposure. The move seems to have been successful. The firm noted a total revenue growth of a whopping 51.9% year on year for its interactive division, reaching $91.6 million in the last quarter of 2016.
SG Interactive’s CEO Barry Cottle noted that his company is excited to welcome Spicerack Media’s team of experts and complimentary social bingo offerings to its own portfolio of games and social casino mobile apps. Cottle expects the acquisition to begin to benefit his company immediately, providing an additional boost within the mobile industry to offer players even more engaging gaming content. One of Spicerack’s founders Davy Campano also commented on the closure of the deal. He noted that his company is pleased to merge their social and mobile gaming portfolios, along with its reputation, with those of Scientific Games. He went on to say that SG Interactive’s business has been growing rapidly and consistently, offering the perfect platform for Spicerack’s innovative products.